Landsea Homes Corp (NASDAQ:LSEA) Q1 2022 Earnings Conference Call May 3, 2022 5:00 PM ET
Company Participants
Drew Mackintosh - Mackintosh IR
John Ho - CEO
Michael Forsum - President and COO
Chris Porter - CFO
Conference Call Participants
Matthew Bouley - Barclays
Alex Rygiel - B. Riley
Alex Barron - Housing Research Center
Operator
Greetings and welcome to the Landsea Homes First Quarter 2022 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.
I would now like to turn the conference over to your host, Drew Mackintosh.
Drew Mackintosh
Good afternoon and welcome to Landsea Homes first quarter earnings call. Before the call begins, I would like to note that this call will include forward-looking statements within the meaning of the federal securities laws. Landsea Homes cautions that forward-looking statements are subject to numerous assumptions, risks, and uncertainties which change over time. These risks and uncertainties include, but are not limited to, the risk factors described by Landsea Homes in its filings with the Securities and Exchange Commission.
Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date. And you should not place undue reliance on these forward-looking statements in deciding whether to invest in our securities.
We do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events, or otherwise, except as may be required under applicable Securities laws.
Additionally, reconciliations of non-GAAP financial measures discussed on this call to the most comparable GAAP measures can be accessed through Landsea Homes website, and its SEC filings.
Hosting the call today are John Ho, Landsea's Chief Executive Officer; Michael Forsum, Chief Operating Officer; and Chris Porter, Chief Financial Officer.
With that, I'd like to turn the call over to John.
John Ho
Good afternoon and thank you for joining us today as we go over our results for the first quarter 2022 and provide an update on the outlook for our industry and our company.
Landsea Homes reported net income of $13 million or earnings of $0.28 per diluted share in the first quarter of 2022, a significant improvement over the net loss of $7 million or $0.16 per diluted share we reported in the first quarter of 2021.